An activist and a public policy analyst, Frank Abang, has insisted that the Assets Management Corporation of Nigeria (AMCON) is indebted to Nigerians with explanation on the whereabouts of the N191 billion worth of assets forfeited by the convicted former Managing Director of Oceanic Bank, Cecelia Ibru.
The development came as the Federal High Court in Lagos is set to rule on September 28 on the suit filed by Abang seeking to compel AMCON to account for the assets, which were forfeited by Ibru as part of the plea bargaining deal between her and the Economic and Financial Crimes Commission (EFCC).
Abang alleged in the suit, which was brought pursuant to the Freedom of Information (FoI) Act, that the Central Bank of Nigeria (CBN) Governor, Lamido Sanusi, committed monumental fraud in the deal that led to the take-over of Oceanic Bank by Ecobank Plc.
Speaking through his lawyer, Chucks Nwachuku, Abang recalled that Sanusi had claimed that Oceanic Bank was sold to Ecobank for N25 billion, while a total of N191 billion was recovered from Ibru.
He wondered why CBN failed to inject part of the recovered money back to Oceanic Bank, and save the bank from collapse.
“My Lord, many shareholders of Oceanic Bank have died as a result of heart-attack, but Sanusi and a few individuals, including his lawyers, are feeding fat fraudulently on the assets forfeited by Ibru.
“There have been two previous injunctions directing the CBN and the EFCC to disclose the whereabouts of Ibru’s assets, but they have failed to do so.
“If not for the fact that they have embezzled the funds, why is it difficult for them to account for it,” Nwachuku queried, urging the court to grant the prayers of his client.
Read more at DailyIndependent
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